San Francisco Market Update | Q1 2016

All data within this document is pulled from the San Francisco MLS.

San Francisco Market UpdateFirst Quarter 2016

SAN FRANCISCO BROKERAGE

117 Greenwich Street

San Francisco, CA 94111

t. 415.901.1700

sothebyshomes.com

San Francisco, CA | web: 0087796

http://www.sothebyshomes.com/San-Francisco-Real-Estate

http://www.sothebyshomes.com/San-Francisco-Real-Estate/sales/0087796

2012 2013 2014 2015 2016

SAN FRANCISCO (TOTAL) 608 633 668 583 540

DISTRICT 1 42 37 22 21 26

DISTRICT 4 14 12 15 9 5

DISTRICT 5 84 93 111 97 64

DISTRICT 6 56 65 69 65 59

DISTRICT 7 61 89 57 63 44

DISTRICT 8 136 90 131 81 79

DISTRICT 9 174 211 238 220 225

Source: SFARMLS - January 1-March 31 each year.

2012 2013 2014 2015 2016

SAN FRANCISCO (TOTAL) 535 497 467 428 349

DISTRICT 1 45 39 36 34 29

DISTRICT 4 55 64 63 53 48

DISTRICT 5 72 72 70 65 47

DISTRICT 6 10 6 13 4 3

DISTRICT 7 23 19 18 19 17

DISTRICT 8 5 4 5 3 1

DISTRICT 9 46 54 39 59 37

A MESSAGE FROM: JEFFREY G. GIBSONSenior Vice President and Brokerage Manager

Throughout 2015, prices for single-family homes remained on the rise and that momentum carried over to the first quarter of 2016. According to the San Francisco Multiple Listing Service, the average sales price for a single-family home in San Francisco climbed 7 percent, from $1,570,000 in Q1 2015 to $1,680,000 in Q1 2016. The average price-per-square-foot, similarly, increased from $791 per-square-foot in Q1 2015 to $856 per-square-foot in Q1 2016, an 8.2 percent increase. Unlike single-family homes, buyers did not push prices higher for condominiums. Comparing Q1 2015 to Q1 2016, the average sales price and the average price-per-square-foot for condominiums throughout the city remained relatively flat. The average sales price for condominiums went from $1,200,000 in Q1 2015, to $1,220,000 in Q1 2016. The average price per-square-foot for condominiums also slightly rose from $1,000 per-square-foot in Q1 2016, to $1,020 in Q1 2016. Demand remained strong in Q1 2016, but the number of sales was down. Low inventory throughout the city played a factor as the number of single-family homes sold fell 18.5 percent, from 428 units sold in Q1 2015 to 349 units sold in Q1 2016. Condominiums saw a 7.4 percent decrease in total units sold, from 583 units sold in Q1 2015, to 540 units sold in Q1 2016.

Q1 TOTAL CLOSED SALES (SINGLE FAMILY HOMES)

Q1 TOTAL CLOSED SALES (CONDOS)

Jeffrey G. Gibson

Sotheby’s International Realty and the Sotheby’s International Realty logo are registered (or unregistered) service marks used with permission. Operated by Sotheby’s International Realty, Inc. If your property is listed with a real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers. We are happy to work with them and cooperate fully. Real estate agents affiliated with Sotheby’s International Realty, Inc. are independent contractor sales associates and are not employees of Sotheby’s International Realty, Inc.

SAN FRANCISCO BROKERAGE 117 Greenwich StreetSan Francisco, CA 94111 t. 415.901.1700

Source: SFARMLS - January 1-March 31 each year.

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2012 2013 2014 2015 2016

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2012 2013 2014 2015 2016

sothebyshomes.com/sanfrancisco

http://www.sirsanfranciscomanager.com/

MISSION DISTRICTWeb ID: 0087844 | $9,000,000

Tucked away on a serene block in the heart of

Mission Dolores. Designed by renowned architect

Stanley Saitowitz. 50-Oakwood.com

Daniel DerVartanian | 415.200.7744

PACIFIC HEIGHTSWeb ID: 0087782 | $8,250,000

Eco-Contemporary, approx. 1 block from San

Francisco’s Gold Coast. 4bd/4.5ba, 2 plus car

parking. 2635Broadway.com

Gregg Lynn | 415.901.1780

JORDAN PARKWeb ID: 0087822 | $4,495,000

Finely crafted, upgraded, 5bd/4.5ba exquisite

Edwardian, polished with quality and style.

182JordanAve.com

Gael Bruno | 415.309.9094

FEATURED PROPERTIES




4

SINGLE FAMILY HOME SALES

SERVING SAN FRANCISCO, MARIN, THE PENINSULA AND EAST BAY sothebyshomes.com/sanfrancisco

AVERAGE SALES PRICE AVERAGE DAYS ON MARKET

$-

$500,000

$1,000,000

$1,500,000

$2,000,000

$2,500,000

2012 2013 2014 2015 2016

San Francisco District 1

ABOUT DISTRICT 1Also known as the Richmond District, District 1 is nestled on

the Northwest corner of San Francisco. Home to many distinct

neighborhoods, including Jordan Park, Lake, Laurel Heights, Outer

Richmond, Central Richmond, Inner Richmond, and Sea Cliff, the

district borders both the Golden Gate Park and the Pacific Ocean. In

District 1, residents and visitors alike can enjoy some fun in the park,

or sit back and gaze upon the vast ocean.

SINGLE FAMILY HOMES | Q1 2012 2013 2014 2015 2016 percent Change

(2016 v 2015)

AVERAGE LIST PRICE $1,055,790 $1,519,283 $1,454,374 $1,803,761 $2,054,169 13.9 percent

AVERAGE SOLD PRICE $1,069,875 $1,587,079 $1,567,467 $1,951,122 $2,130,086 9.2 percent

AVERAGE DAYS ON MARKET 57 36 39 20 32 65.0 percent

TOTAL SINGLE FAMILY HOMES SOLD 45 39 36 34 29 -14.7 percent

DISTRICT 1

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2012 2013 2014 2015 2016


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2012 2013 2014 2015 2016



http://www.sothebyshomes.com/Los-Angeles-Real-Estate




5

CONDOMINIUM SALES


Q1 MARKET OVERVIEW Over the last five years, the number of single-family homes sold in District 1 has steadily declined, while the average

sales price increased. Consider that in Q1 2012, 45 homes were sold in the district at an average sales price of

$1,070,000. Jump forward to Q1 2016, where 29 single-family homes were sold at an average sales price of $2,130,000.

While average sales prices in Q1 2016 continued to soar for single-family homes in District 1, average sales prices have

begun to shift for condominiums. The average sales price for a condominium fell 8 percent from $1,200,000 in Q1 2015

to $1,100,000 in Q1 2016, one of the few districts in the City to see a decline. An influx of inventory may have helped

balance the value of condominiums in the district. The number of condominiums closed grew 23.8 percent, up to 26

units sold in Q1 2016 from 21 units sold in Q1 2015.

CONDOMINIUMS | Q1 2012 2013 2014 2015 2016 percent Change

(2016 v 2015)

AVERAGE LIST PRICE $657,498 $731,889 $994,727 $1,097,667 $967,921 -11.8 percent

AVERAGE SOLD PRICE $658,214 $766,459 $1,068,448 $1,199,738 $1,104,077 -8.0 percent

AVERAGE DAYS ON MARKET 76 55 46 36 21 -41.5 percent

TOTAL CONDOS SOLD 42 37 22 21 26 23.8 percent

DISTRICT 1

$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

2012 2013 2014 2015 2016


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2012 2013 2014 2015 2016


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2012 2013 2014 2015 2016




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$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

$1,600,000

$1,800,000

2012 2013 2014 2015 2016


ABOUT DISTRICT 4 District 4, also referred to as West of Twin Peaks is located in a

heavily wooded and picturesque area of San Francisco. District 4

encompasses 16 neighborhoods: Balboa Terrace, Diamond Heights,

Forest Hill, Forest Hill Extension, Forest Knolls, Ingleside Terrace,

Midtown Terrace, Miraloma Park, Monterey Heights, Mount Davidson

Manor, Sherwood Forest, St. Francis Wood, Sunnyside, West Portal,

Westwood Highlands and Westwood Park.

DISTRICT 4


(2016 v 2015)

AVERAGE LIST PRICE $871,634 $1,080,119 $1,163,193 $1,291,253 $1,417,769 9.8 percent

AVERAGE SOLD PRICE $863,793 $1,159,538 $1,288,624 $1,424,894 $1,568,677 10.1 percent



0

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2012 2013 2014 2015 2016


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2012 2013 2014 2015 2016







7

CONDOMINIUM SALES


Q1 MARKET OVERVIEW Since 2012, the average sales price of a single-family home in District 4 has consistently remained a hair below the

citywide average in the first quarter of the year. That trend continued well into Q1 2016 as the average sales price

for a single-family home rose to $1,570,000, a 10.1 percent increase from Q1 2015. The average sales price for a

condominium experienced similar growth, rising 9.8 percent year over year.

Low inventory in District 4 resulted in fewer sales of both single-family homes and condominiums. Total sales of

condominiums stayed in the single digits, with five units closed in Q1 2016—a 44.4 percent decline from the nine units

sold in Q1 2015. The number of single-family homes sold was down 9.4 percent, with 48 units sold in Q1 2016.


(2016 v 2015)

AVERAGE LIST PRICE $419,236 $485,490 $595,733 $557,211 $659,200 18.3 percent

AVERAGE SOLD PRICE $408,539 $509,606 $623,933 $619,000 $679,600 9.8 percent


TOTAL CONDOS SOLD 14 12 15 9 5 -44.4 percent

DISTRICT 4

$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

2012 2013 2014 2015 2016


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DISTRICT 5

ABOUT DISTRICT 5 District 5, commonly known as the Central District, is in the

geographic center of San Francisco. The sunny region, with its charm

and vitality, is popular with both tourists and residents. The district

is home to the neighborhoods of Ashbury Heights, Buena Vista Park,

Clarendon Heights, Corona Heights, Cole Valley, Castro, Dolores

Heights, Duboce Triangle, Glen Park, Haight Ashbury, Noe Valley, Twin

Peaks and Mission Dolores.


(2016 v 2015)





$-

$500,000

$1,000,000

$1,500,000

$2,000,000

$2,500,000

$3,000,000

2012 2013 2014 2015 2016


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2012 2013 2014 2015 2016







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CONDOMINIUM SALES


DISTRICT 5

Q1 MARKET OVERVIEW Inventory appeared to be scarce in District 5, as the number of single-family homes and condominiums sold fell

dramatically in the area. In particular, there was a sharp 34 percent drop in the number of condominiums sold

compared year over year; 97 units were sold in Q1 2015 and 64 units were sold in Q1 2016. The number of single-family

homes sold also fell in Q1 2016, dropping to 47 units sold compared to the 65 units sold in Q1 2015, a 27.7 percent

decrease.

Despite the low inventory in the district, the average sales price for a single-family home stayed relatively flat, going

from $2,400,000 in Q1 2015 to $2,500,000 in Q1 2016. Demand for condominiums continued to steadily increase the

average sales price, which rose from $1,180,000 in Q1 2015 to $1,300,000 in Q1 2016, an 8.9 percent increase.


(2016 v 2015)

AVERAGE LIST PRICE $865,389 $836,464 $1,000,168 $1,043,844 $1,210,438 16 percent

AVERAGE SOLD PRICE $878,260 $900,531 $1,098,284 $1,182,769 $1,288,187 8.9 percent


TOTAL CONDOS SOLD 84 93 111 97 64 -34 percent

$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

2012 2013 2014 2015 2016


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2012 2013 2014 2015 2016


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DISTRICT 6

ABOUT DISTRICT 6 District 6, also referred to as the Central North, is a vibrant area with

easy access to public transportation, trendy boutiques, excellent

restaurants and gorgeous City views. The neighborhoods that

encompass District 6 include Alamo Square, Hayes Valley, Western

Addition, Lower Pacific Heights, Anza Vista and North Panhandle

(NoPa). Homes vary from stunning mansions and Victorian houses to

quaint single family homes and chic condominiums.


(2016 v 2015)





$-

$500,000

$1,000,000

$1,500,000

$2,000,000

$2,500,000

$3,000,000

$3,500,000

2012 2013 2014 2015 2016


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$1,500,000

$2,000,000

$2,500,000

$3,000,000

$3,500,000

2012 2013 2014 2015 2016







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CONDOMINIUM SALES


DISTRICT 6

Q1 MARKET OVERVIEW Sales of single-family homes in District 6 were low in the last two years of the first quarter. Only four units closed in Q1

2015, and that number remained low in Q1 2016 with three units sold. When presented with limited options, buyers in

the district were willing to pay more than double what they spent in Q1 2015. The average sales price for a single-family

home was $1,500,000 in Q1 2015, and rose to $3,270,000 in Q1 2016.

Following a traditional bell curve, the total number of condominiums sold in District 6 over the past few years rose

as high as 69 units sold in Q1 2014 before balancing back down to 59 units sold in Q1 2016. While the total number of

condominiums sold rose and fell, the average sales price continued its ascent, going from $1,044,000 in Q1 2015 to

$1,200,000 in Q1 2016, a 15.6 percent growth.


(2016 v 2015)

AVERAGE LIST PRICE $669,533 $704,877 $788,635 $941,103 $1,116,396 18.6 percent

AVERAGE SOLD PRICE $667,729 $735,851 $858,002 $1,044,219 $1,206,688 15.6 percent



$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

2012 2013 2014 2015 2016


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DISTRICT 7

ABOUT DISTRICT 7 District 7, is located in the northernmost region of San Francisco. With

the Golden Gate Bridge and the San Francisco Bay to the north and

downtown to the east, the district is ideal for both work and recreation.

With beautiful bay views, chic boutiques, and lush parks, residents can

find plenty of activities in the Marina, Cow Hollow, Pacific Heights and

Presidio Heights.


(2016 v 2015)

AVERAGE LIST PRICE $4,217,620 $4,355,474 $4,797,444 $5,201,842 $5,152,432 -0.9 percent

AVERAGE SOLD PRICE $4,034,891 $4,221,526 $4,711,500 $5,441,658 $5,135,080 -5.6 percent



$-

$1,000,000

$2,000,000

$3,000,000

$4,000,000

$5,000,000

$6,000,000

2012 2013 2014 2015 2016


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CONDOMINIUM SALES


DISTRICT 7

Q1 MARKET OVERVIEW Due to a shift in demand, District 7 was one of the few areas in San Francisco to see the average sales prices for a

single-family home decrease. Demand was high in Q1 2015—the average sales price for a single-family home was

$5,400,000, and buyers were willing to spend about 4 percent more than the listing price. In Q1 2016, the average sales

price fell to $5,135,000, which was flat when compared to the average list price of $5,150,000.

While the average sales price for a single-family home began to balance out, the average sales price for a condominium

in District 7 continued to climb, going from $1,600,000 in Q1 2015 to $1,880,000 in Q1 2016. There were 44

condominiums sold in the district in Q1 2016, which decreased from 63 units sold in Q1 2015, a 34 percent decrease.


(2016 v 2015)





$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

$1,600,000

$1,800,000

$2,000,000

2012 2013 2014 2015 2016


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DISTRICT 8

ABOUT DISTRICT 8 District 8 includes the business and financial center of San Francisco,

and serves as a popular tourist destination. Encompassing the

skyscrapers of the Financial District, culture and art with the San

Francisco Opera and Ballet, and popular locations like Fisherman’s

Wharf and Chinatown, the district is truly the heart of the City.

Residential neighborhoods include North Beach, Russian Hill, Nob Hill,

Telegraph Hill and North Waterfront.


(2016 v 2015)





$-

$500,000

$1,000,000

$1,500,000

$2,000,000

$2,500,000

$3,000,000

$3,500,000

$4,000,000

$4,500,000

2012 2013 2014 2015 2016


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140

2012 2013 2014 2015 2016


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CONDOMINIUM SALES


DISTRICTS 8

Q1 MARKET OVERVIEW The number of condominiums sold in District 8 remained flat in Q1 2016, with 81 units sold in Q1 2015 compared to 79

units sold in Q1 2016. With a fairly level inventory to choose from, buyers in the district helped guide the average sales

price for a condominium down 13.8 percent, from $1,470,000 in Q1 2015 to $1,260,000 in Q1 2016. The shift in price

didn’t stifle the buyer’s sense of urgency in closing a sale. District 8 was one of the few areas to post a decline in the

average number of days a listing remained on the market, falling to 37 days in Q1 2016.

Over the last five years, around three to five single-family homes were sold in District 8 in the first quarter of the year.

That number decreased to one single-family home sold in Q1 2016.


(2016 v 2015)

AVERAGE LIST PRICE $766,933 $936,020 $1,137,208 $1,418,327 $1,222,610 -13.8 percent




$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

$1,600,000

2012 2013 2014 2015 2016


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2012 2013 2014 2015 2016


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$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

$1,600,000

2012 2013 2014 2015 2016




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DISTRICT 9

ABOUT DISTRICT 9 District 9, the central-eastern portion of San Francisco includes the

neighborhoods Bernal Heights, the Central Waterfront/Dogpatch,

Inner Mission, Mission Bay, Potrero Hill, South Beach and South of

Market (SoMa). The area includes some of the oldest homes in San

Francisco, having escaped the 1906 earthquake and fire destruction.

District 9’s real estate includes cottages, bungalows and single-family

homes in Bernal Heights and Potrero Hill, and warehouse-converted

lofts and condominiums in SoMa, South Beach and Yerba Buena.


(2016 v 2015)

AVERAGE LIST PRICE $716,002 $839,914 $1,069,872 $1,304,108 $1,370,865 5.1 percent

AVERAGE SOLD PRICE $729,541 $921,231 $1,221,510 $1,477,521 $1,552,959 5.1 percent



$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

$1,600,000

$1,800,000

2012 2013 2014 2015 2016


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$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

$1,600,000

$1,800,000

2012 2013 2014 2015 2016







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CONDOMINIUM SALES


DISTRICT 9

Q1 MARKET OVERVIEW In District 9, the number of single-family homes sold fell 37.3 percent, decreasing from 59 units sold in Q1 2015 to 37

units sold in Q1 2016. Buyers were still motivated by the limited supply, as the average sales price remained fairly level,

going slightly up from $1,480,000 in Q1 2015 to $1,550,000 in Q1 2016.

The number of condominiums sold remained consistent in the first quarter year over year. A total of 225

condominiums were sold in Q1 2016, a slight increase over the 220 units sold in Q1 2015. The consistent supply helped

keep the average sales price for a condominium level at $1,161,600 in Q1 2016, which stayed flat when compared to

$1,162,300 which was posted in Q1 2015.


(2016 v 2015)

AVERAGE LIST PRICE $669,966 $897,367 $960,653 $1,118,686 $1,136,436 1.6 percent



TOTAL CONDOS SOLD 174 211 238 220 225 2.3 percent

$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

2012 2013 2014 2015 2016


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AUCTION CALENDAR MAY 2016

Orfèvrerie, Boîtes en Or et Objets de VitrineParis 3 May

MALCOLM Part One: New YorkNew York 7 May Impressionist & Modern Art Evening SaleNew York 9 May

Impressionist & Modern Art Day SaleNew York 10 May

Contemporary Art Evening AuctionNew York 11 May

Finest and Rarest WinesLondon 11 May

Contemporary Art Day AuctionNew York 12 May

Important Chinese ArtLondon 13 May

RM Sotheby’s: MonacoMonte Carlo 14 May

© 2016 Calder Foundation, New York / Artists Rights Society (ARS), New York

Property Formerly in the Collection of Alfred H. Barr, Jr.Alexander Calder

Untitled, circa 1942Estimate $2,500,000-3,500,000

We invite you to explore our real estate listings at sothebyshomes.com and view the worldwide auction schedule at sothebys.com Enquiries +1 212 606 7000. Sotheby’s 72 & York Register now at sothebys.com SOTHEBY’S, INC. LICENSE NO. 1216058. © SOTHEBY’S, INC. 2016

http://sothebys.com/

left to right from top to bottom:

METROPOLITAN MARKETS

NEW YORK, NY | Web: 0138268 | $5,650,000

SAN FRANCISCO, CA | Web: 0087780 | $5,395,000

HOUSTON, TX | Web: 1240556 | $5,250,000

RESORT MARKETS

SONOMA, CA | Web: 0243927 | $5,275,000

AMAGANSETT, NY | Web: 1050627 | $5,250,000

MONTECITO, CA | Web: 0113951 | $5,950,000

FOREIGN MARKETS

INDIA | Web: G6ZBKG | $5,684,793

SPAIN | Web: B858KK | $5,528,256

HONG KONG | Web: QGJQX9 | $5,671,492

sothebysrealty.com

ON THE MARKET

http://www.sothebyshomes.com/Sonoma-Real-Estate/sales/0243927

http://www.sothebyshomes.com/hamptons/sales/1050627


http://www.sothebysrealty.com/eng/sales/detail/180-l-761-qgjqx9/broadwood-twelve-happy-valley-hk

http://www.sothebyshomes.com/Santa-Barbara-Real-Estate/sales/0113951

http://www.sothebysrealty.com/eng/sales/detail/180-l-3892-g6zbkg/scenic-farmhouse-in-mahabaleshwar-other-maharashtra-mh

http://www.sothebysrealty.com/eng/sales/detail/180-l-975-b858kk/minimalist-project-in-santa-ponsa-santa-ponsa-ml-07081

http://www.sothebyshomes.com/nyc/sales/0138268

http://www.sothebyshomes.com/houston/sales/1240556

San Francisco Market Update | Q1 2016

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